No collateral? No problem. Unsecured business loans to get you started

So, you’ve finally decided to take the plunge and turn your side hustle into a business, except, now you’re stuck trying to come up with the cash to get the ball rolling. Before you throw in the towel and go running back to your nine to five, have you considered taking out a business loan?

No collateral? No problem! With an unsecured business loan, you don’t need an asset to use as security against the loan. 

Not owning a vehicle or property shouldn’t hold you back from starting or growing your business, and if you’re starting out, chances are you probably don’t own any big assets yet. It makes just as much sense as the whole “needing experience to get experience” debacle.

So, here are some killer unsecured business loans to help get your business up and running!

Moula Business Loan (Unsecured)

Moula - Business Loan
  • Interest rates from 0.61% per fortnight
  • Zero upfront or ongoing fees
  • Funds available in just 24 hours from approval
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The details:

With competitive interest rates from 0.61% per fortnight on loan amounts up to $500,000 and no upfront or ongoing fees, if you’re on the hunt for a top-notch business loan, then be sure to check out the Moula Unsecured Business Loan. With Moula’s easy to navigate online platform and super speedy 10-minute loan application process, once approved, your funds could be in your account within less than 24-hours.

OnDeck Short Term Business Loan (Unsecured)

OnDeck - Short Term Business Loan
  • Personalised interest rates on application
  • Loan amounts of up to $250,000
  • Fast loan applications and funding
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The details:

Does your business need a quick cash boost? Well, with a super-fast online application process and a one-business-day turnaround of funds once approved, the OnDeck Short Term Business Loan can do the job on the double. And with loan amounts of $10,000 to $250,000, no upfront or service fees and personalised interest rates upon application, you may just want to jump on deck with OnDeck!

GetCapital Flexible Business Loan (Unsecured)

Shift - Business Loan
  • Interest rates from 0.87% per month
  • Borrow up to $500,000
  • Extra repayments and redraws allowed
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The details:

The GetCapital Flexible Business Loan hits the ground running with competitive interest rates from 0.87% per month on loan amounts between $10,000 and $500,000. And if you’re wondering how this bad boy got its name, the GetCapital Flexible Business Loan offers loads of flexible features, like extra loan repayments, a redraw facility and 6 to 12-year loan term options. Getting a loan? GetCapital! Flexible Business Loan (Unsecured) - Flexible Business Loan
  • Interest rates from 0.87% per month
  • Unsecured loans from $10,000 to $500,000
  • Funding within 24 hours of approval
The details:

With the Flexible Business Loan (Unsecured), you’ll be able to borrow between $10,000 and $500,000, which you’ll see in your bank account within just 24 hours of your application’s approval. Setting the bar high with competitive interest rates from 0.87% per month, the Flexible Business Loan could be just the thing you need to take your business to the next level.

Capify Small Business Loan Unsecured

Capify - Unsecured Small Business Loan
  • 24-hour pre-approval
  • Receive your funds in 48 hours from approval for any business purpose
  • Ability to make small, daily repayments with tailored repayment plans
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The details:

Looking to give your small business a leg-up with a business loan? Offering loans between $5,000 and $300,000 with tailorable repayment plans, the Capify Small Business Loan Unsecured guarantees a 24-hour turnaround for conditional approvals. Plus, if you apply via Mozo, you’ll score an e-gift voucher of up to $500 if approved (T&C's apply. Must quote Mozo offer on application).

Prospa Small Business Loan (Unsecured)

Prospa - Prospa Plus Business Loan
  • Unsecured loans from $5,000 to $300,000
  • Speedy 10-minute online loan applications
  • Extra repayments and redraw facility
The details:

With loan amounts ranging from $5,000 right up to $300,000, flexible 3 to 24-month loan term options and competitive interest rates determined upon application, the Prospa Small Business Loan offers tonnes of flexible options to suit all different types of businesses. On top of all this, the Prospa Small Business Loan also allows extra loan repayments, so you’ll be able to pay your loan off faster!

For more hot offers, head over to Mozo’s business loan comparison tool.

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